Cheap Homes for Rent in Martinsville, IL from $500 (20 Rentals)

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property at 1034 N 7th St

1034 N 7th St

Terre HauteIN47807

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 1034 N 8th St

1034 N 8th St

Terre HauteIN47807

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 1400 Wabash Ave

1400 Wabash Ave

Terre HauteIN47807

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Martinsville, IL Local Guide

Cheapest Available Martinsville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Martinsville, IL is a 2 Beds unit found at Historic Walnut Square in the Downtown Terre Haute neighborhood priced from $417. Union Pointe in the Downtown Terre Haute neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $550. Here is today’s list of the most affordable Martinsville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Historic Walnut SquareTwo Bedroom2BR,1BA$417
Union Pointe1 Bedroom1BR,2BA$550
Arthur Ave Apartments1x11BR,1BA$610
Highland Terrace1 Bed 1 Bath1BR,1BA$675
The Annex of Terre HauteStudio CStudio,1BA$750

Best Value Apartments for Rent in Martinsville, IL and Nearby

As of May 12, 2025 the best value apartment in the Martinsville area is the $0.93 price per square foot 4x2 Model at Arbors at Honey Creek in the in the Downtown Terre Haute neighborhood starting from $1,347. The second greatest value Martinsville apartment is the 3 Bedroom Model at The Millennium Apartments starting at $505 with a $0.41 price per square foot . Here is today’s list of the best values for Martinsville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Arbors at Honey Creek4x24BR,2BA$0.93
The Millennium Apartments3 Bedroom3BR,1BA$0.41
Royal Heights3 Person Occupancy3BR,1.5BA$1.11
Harrison West2 Bedroom2BR,1BA$0.93
ANTHONY SQUARE SENIOR LIVING2 Bed 1 Bath2BR,1BA$1.00
Historic Walnut SquareTwo Bedroom2BR,1BA$0.51
Willow CrossingsPhase I - 2 Bed 1 Bath2BR,1BA$0.98
Sycamore Place Apartments2.1 C2BR,1BA$0.80
Arthur Ave Apartments1x11BR,1BA$0.97
Union Pointe1 Bedroom1BR,2BA$0.92

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Martinsville

What type of rentals are currently available in Martinsville?

There are currently 36 Apartments for Rent in Martinsville, IL with pricing that ranges from $351 to $2,520. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Martinsville ranging from $575 to $3,600.

What is the current price range for Rental Homes in Martinsville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Martinsville ranges from $575 to $3,600 with an average monthly rent of $1,400.

How much are larger Three and Four Bedroom Rentals in Martinsville?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Martinsville range from $925 to $2,438, while Three Bedroom Homes, Condos, and Townhomes for rent range from $799 to $2,200. Four Bedroom Single-Family rentals are also available starting from $850 and Four Bedroom Apartments start at $465.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

decorative image for Rise of Digital Nomads: Remote Work Tips for Apartment Renters article

Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.